Delaware court of chancery, Court

San Francisco, July 13 With an aim to force Elon Musk to follow through with his $44 billion Twitter acquisition deal, the microblogging site has now sued the tech billionaire as he walked out of the deal.The lawsuit, filed in the Delaware Court of Chancery this week, comes after the Tesla and SpaceX CEO said that he wants to terminate the $44 billion acquisition agreement."In April 2022, Elon Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done. Now, less than three months later, Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests," the complaint reads."Musk apparently believes that he unlike every other party subject to Delaware contract law is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away," it added."Oh the irony lol," Musk tweeted Shortly after news of the suit was filed.Last week, Musk officially pulled out of his $44 billion agreement to purchase the microblogging site.In a filing on Friday afternoon with the US Securities and Exchange Commission (SEC), Musk's team claimed he is terminating the deal because Twitter was in "material breach" of their agreement and had made "false and misleading" statements during negotiations.A recent report indicated that Twitter lawyers from Wachtell, Lipton, Rosen & Katz law firms were preparing for a long-drawn court battle after Musk filed paperwork with the US SEC to exit the acquisition deal.Meanwhile, shares of the microblogging site fell about 6 per cent in premarket trading on Monday, amid the recent walkout by Musk.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Delaware Court Of ChanceryFOLLOW

Delaware court of chancery, Latest News

San Francisco, July 29 The US judge in the Twitter vs Elon Musk legal battle over cancellation of ... ...

New Delhi, July 27 Convicted Kashmiri Separatist leader Yasin Malik was hospitalised by the Tihar prison authorities after ... ...

New Delhi, July 23 Kashmiri Separatist leader Yasin Malik, who is currently lodged at cell No. 7 of ... ...

Puerto Rican singer-songwriter Ricky Martin's nephew withdrew his harassment and affair claims against him in a July 21 court appearance, which effectively closed the case. ...

San Francisco, July 20 In an early win for microblogging site Twitter, a US court has ordered that ... ...

San Francisco, July 19 Tech billionaire Elon Musk has reportedly planned to file a counter-lawsuit against micro-blogging site ... ...

Los Angeles, July 14 Kevin Spacey appeared at the UK's historic Old Bailey criminal court on Thursday morning, ... ...

San Francisco, July 13 With an aim to force Elon Musk to follow through with his $44 billion ... ...